REGISTERED COMPANY NUMBER: 10865456 (England and Wales) REGISTERED CHARITY NUMBER: 1203769
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
for
LONDON HOSANNA CHURCH
Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU
LONDON HOSANNA CHURCH
Contents of the Financial Statements for the Year Ended 31 July 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
LONDON HOSANNA CHURCH (Registered number: 10865456)
Report of the Trustees
for the Year Ended 31 July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal object of the charity is advance the Christian Faith. It seeks to do this locally within its immediate geographic neighbourhood area, but also across the UK and internationally with various contacts that the charity has.
Significant activities
The principal fund raising activity of the church is the offerings and donations made by the members of the church congregation. The fund raised are used to support missionary work, both in the United Kingdom and abroad, to give scholarship support to students, and generally to give support and aid to those less well off in the community.
Public benefit
The trustees have had due regard to the Charity Commission's general guidance on public benefit when reviewing the Charity's objectives.
The trustees strongly believe that the meeting together for the worship of God and Jesus Christ, preaching and Bible teaching, as well as meeting in small groups for all ages to explore the Christian faith, as well as working in and with our community is for public benefit.
FINANCIAL REVIEW
Financial position
The results for the financial period are set out in the statement of Financial activities.
Overall the charity income totalling £31,230 (2023: £26,036) with expenditure on charitable activities £36,834 (2023:£19,867), resulting in a net deficit as at 31 July 2024 of £5,604 (2023:£6,169-Surplus)
Total funds as at 31 July 2024 are £14,691 (2023:£20,295)
Reserves policy
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objective even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 10865456 (England and Wales)
Registered Charity number
1203769
Registered office
110A Church Hill Road Cheam Sutton SM3 8NA
Page 1
LONDON HOSANNA CHURCH (Registered number: 10865456)
Report of the Trustees
for the Year Ended 31 July 2024
Trustees
Ms M Kang Mr M Kim Reverend E W S Song
Company Secretary
Independent Examiner
Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU Approved by order of the board of trustees on 30 May 2025 and signed on its behalf by:
Ms M Kang - Trustee
Page 2
Independent Examiner's Report to the Trustees of LONDON HOSANNA CHURCH
Independent examiner's report to the trustees of LONDON HOSANNA CHURCH ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Byung-Hun Lee, FCCA
Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU
30 May 2025
Page 3
| LONDON HOSANNA CHURCH | ||
|---|---|---|
| Statement of Financial Activities | ||
| for the Year Ended 31 July 2024 | ||
| 31.7.24 | 31.7.23 | |
| Unrestricted | Total | |
| funds | funds | |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 31,230 | 26,036 |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Charitable activities | 36,834 | 19,867 |
| NET INCOME/(EXPENDITURE) | (5,604) | 6,169 |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 20,295 | 14,126 |
| TOTAL FUNDS CARRIED FORWARD | 14,691 | 20,295 |
| The notes form part of these financial statements | ||
| Page 4 |
LONDON HOSANNA CHURCH (Registered number: 10865456)
Balance Sheet
31 July 2024
| 31.7.24 | 31.7.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 6 | 7,525 | 9,405 |
| CURRENT ASSETS | |||
| Debtors | 7 | 5,750 | 5,750 |
| Cash at bank | 2,476 | 6,169 | |
| 8,226 | 11,919 | ||
| CREDITORS | |||
| Amounts falling due within one year | 8 | (1,060) | (1,029) |
| NET CURRENT ASSETS | 7,166 | 10,890 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 14,691 | 20,295 | |
| NET ASSETS | 14,691 | 20,295 | |
| FUNDS | 9 | ||
| Unrestricted funds | 14,691 | 20,295 | |
| TOTAL FUNDS | 14,691 | 20,295 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 May 2025 and were signed on its behalf by:
M Kim - Trustee
The notes form part of these financial statements
Page 5
LONDON HOSANNA CHURCH
Notes to the Financial Statements for the Year Ended 31 July 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property: 20% on reducing balance basis Plant & machinery:20% on reducing balance basis Fixtures & fittings: 20% on reducing balance basis Computer equipment: 20% on reducing balance basis
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.7.24 | 31.7.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,880 | 2,708 |
continued...
Page 6
LONDON HOSANNA CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
| 31.7.24 | 31.7.23 | |
|---|---|---|
| Staff | 1 | 1 |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| funds | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 26,036 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Charitable activities | 19,867 | |
| NET INCOME | 6,169 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 14,126 | |
| TOTAL FUNDS CARRIED FORWARD | 20,295 |
continued...
Page 7
| LONDON HOSANNA CHURCH | LONDON HOSANNA CHURCH | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes to the Financial Statements-continued | ||||||||
| for the | Year Ended 31 July 2024 | |||||||
| 6. | TANGIBLE FIXED ASSETS | |||||||
| Improvements | Fixtures | |||||||
| to | Plant and | and | Computer | |||||
| property | machinery | fittings | equipment | Totals | ||||
| £ | £ | £ | £ | £ | ||||
| COST | ||||||||
| At 1 August 2023 and | ||||||||
| 31 July 2024 | 4,601 | 6,060 | 1,851 | 383 | 12,895 | |||
| DEPRECIATION | ||||||||
| At 1 August 2023 | 920 | 1,853 | 370 | 347 | 3,490 | |||
| Charge for year | 736 | 841 | 296 | 7 | 1,880 | |||
| At 31 July 2024 | 1,656 | 2,694 | 666 | 354 | 5,370 | |||
| NET BOOK VALUE | ||||||||
| At 31 July 2024 | 2,945 | 3,366 | 1,185 | 29 | 7,525 | |||
| At 31 July 2023 | 3,681 | 4,207 | 1,481 | 36 | 9,405 | |||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| 31.7.24 | 31.7.23 | |||||||
| £ | £ | |||||||
| Amounts recoverable on contract | 5,750 | 5,750 | ||||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| 31.7.24 | 31.7.23 | |||||||
| £ | £ | |||||||
| Social security and other taxes | 660 | 659 | ||||||
| Accrued expenses | 400 | 370 | ||||||
| 1,060 | 1,029 | |||||||
| 9. | MOVEMENT IN FUNDS | |||||||
| Net | ||||||||
| movement | At | |||||||
| At 1.8.23 | in funds | 31.7.24 | ||||||
| £ | £ | £ | ||||||
| Unrestricted funds | ||||||||
| General fund | 20,295 | (5,604) | 14,691 | |||||
| TOTAL FUNDS | 20,295 | (5,604) | 14,691 | |||||
| Net movement in funds, included in the above are as follows: | ||||||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| £ | £ | £ | ||||||
| Unrestricted funds | ||||||||
| General fund | 31,230 | (36,834) | (5,604) | |||||
| TOTAL FUNDS | 31,230 | (36,834) | (5,604) |
continued...
Page 8
LONDON HOSANNA CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.22 | in funds | 31.7.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,126 | 6,169 | 20,295 |
| TOTAL FUNDS | 14,126 | 6,169 | 20,295 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,036 | (19,867) | 6,169 |
| TOTAL FUNDS | 26,036 | (19,867) | 6,169 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.22 | in funds | 31.7.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,126 | 565 | 14,691 |
| TOTAL FUNDS | 14,126 | 565 | 14,691 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 57,266 | (56,701) | 565 |
| TOTAL FUNDS | 57,266 | (56,701) | 565 |
continued...
Page 9
LONDON HOSANNA CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 July 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
Page 10